Logility Supply Chain Solutions (LGTY) said late Friday that it received an unsolicited, non-binding proposal to acquire all outstanding shares of its common stock for $15 per share in cash.
In January, Logility entered into a definitive agreement to be acquired by Aptean for $14.30 per share in an all-cash transaction.
The company said its board has determined that the unsolicited proposal could lead to a superior offer under the terms of the Aptean merger agreement, allowing Logility to engage in discussions with the unsolicited bidder.
Logility said the Aptean Merger Agreement remains in full force, and its board continues to recommend that shareholders vote in favor of the transaction.
It added that the board has made no recommendation regarding the unsolicited proposal, and there is no assurance that any deal will come from the discussions.